After more than 11 years in office, the CEO of Continental, Dr Elmar Degenhart, is to resign from his position effective November 30, citing healthcare needs as the reason behind the sudden decision.
Degenhart explained the timing of his resignation as follows: “After a lot of effort invested for the benefit of our organization, I was recently made aware of the importance of immediately giving precautionary measures for my health the utmost priority when it comes to planning my personal life. I would have clearly preferred to continue working on our structural realignment, our profitable growth and viability enhancement program. And I would have loved to enjoy the future success this will bring, especially since we have just recently prepared for it by making the most difficult decisions and setting the decisive course. But in consideration of the health-related advice that I received, I am now setting other priorities.”
Degenhart has been CEO of the company since August 2009 and is currently in his third term. He is directly responsible for group communications, group strategy, group total quality management and the startup program, co-pace.
Continental’s supervisory board chairman, Wolfgang Reitzle, commented, “As a leader and as a person, Dr Degenhart is a role model of the leadership principle he has coined: values create value. He deserves the greatest possible thanks from all stakeholders for his track record. With a systematically realigned organization and the enhancement of a lasting values culture, he has laid the decisive foundations for further profitable growth and the future viability of Continental. I will convene the supervisory board to decide on the successor at short notice. Our focus will be on continuity and the seamless continuation in the ongoing transformation of Continental from mainly a tire manufacturer and automotive supplier to a pioneering technology and software mobility company.”